Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Doheny Asset Management CA

Doheny Asset Management CA decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,706 shares of the oil and natural gas company’s stock after selling 1,379 shares during the quarter. Diamondback Energy comprises approximately 2.7% of Doheny Asset Management CA’s holdings, making the stock its 10th largest position. Doheny Asset Management CA’s holdings in Diamondback Energy were worth $2,746,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BKM Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy during the third quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $34,000. CVA Family Office LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after purchasing an additional 218 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FANG shares. Raymond James cut their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Morgan Stanley cut their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. KeyCorp boosted their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets upped their price target on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.53.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 0.6 %

NASDAQ FANG traded up $1.17 on Thursday, reaching $197.18. The stock had a trading volume of 930,599 shares, compared to its average volume of 1,731,440. The business has a 50 day moving average price of $194.57 and a 200 day moving average price of $170.39. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market capitalization of $35.17 billion, a price-to-earnings ratio of 11.05 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.69% and a net margin of 36.71%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the company posted $4.10 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts forecast that Diamondback Energy, Inc. will post 18.94 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.83%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.